The deposit rates offered by Kenyan banks have hit a 36-month low, reflecting the ongoing impact of the removal of the floor interest rate last year that has seen lenders ride on cheap deposits to grow record profits.
The government terminated 170 contracts in the second quarter of this year in what could expose taxpayers to loss of billions of shillings in arising lawsuits.
Standard Chartered Bank Kenya's net profit for the first nine months of the year fell marginally to Sh6.22 billion on a reduced income, breaking ranks with another tier I lenders that have booked growth.
Uganda resubmitted a loan request to China for a 271-kilometre (168-mile) railway linking its capital, Kampala, with the Kenyan border after renegotiating the contract price and improving security.
Safaricom has been forced into a joint bid for one of two Ethiopian telecoms licences next year due to the high entry costs that are expected to breach the Sh100 billion mark.
Kenya Ports Authority has remitted Sh18.7 billion to the treasury making it among the top state-owned entity in sending money to the government following a directive ordering State departments to surrender surplus cash.
Focus now shifts to commercial banks lending rates after President Uhuru Kenyatta appended his signature on Thursday to seal the fate of rate controls in Kenya after three years.
Kenya’s private sector activity slowed in October after accelerating for five straight months, an aspect attributed constrained poor worsened by high government pending bills to firms.
If the Teachers Service Commission (TSC) lives up to its threat to end a recognition pact with the Kenya National Union of Teachers (Knut), it will mark a major turning point in the history of trade unionism in the country.
